SummitTX Capital L.P. Invests $11.68 Million in L3Harris Technologies Inc $LHX

Key Points

• SummitTX Capital initiated a $11.68 million position in L3Harris Technologies, purchasing 33,849 shares during the first quarter. Institutional investors and hedge funds collectively own 84.76% of the company.
• L3Harris reported quarterly earnings of $2.72 per share, exceeding estimates of $2.53, while revenue rose 11.9% year over year to $5.74 billion. The company reaffirmed fiscal 2026 EPS guidance of $11.40–$11.60.
• The company declared a quarterly dividend of $1.25, equal to $5.00 annually and a 1.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $361.70, compared with the stock’s reported price of $300.08.

SummitTX Capital L.P. bought a new position in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,849 shares of the company's stock, valued at approximately $11,683,000.

Several other large investors have also recently made changes to their positions in the company. REAP Financial Group LLC raised its holdings in L3Harris Technologies by 12.9% in the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company's stock worth $74,000 after purchasing an additional 29 shares during the period. American National Bank & Trust grew its holdings in shares of L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after purchasing an additional 30 shares during the period. CYBER HORNET ETFs LLC increased its stake in L3Harris Technologies by 5.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company's stock worth $161,000 after acquiring an additional 30 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its position in shares of L3Harris Technologies by 3.7% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock valued at $253,000 after acquiring an additional 31 shares during the last quarter. Finally, Keudell Morrison Wealth Management raised its holdings in shares of L3Harris Technologies by 0.7% in the 1st quarter. Keudell Morrison Wealth Management now owns 4,631 shares of the company's stock valued at $1,598,000 after buying an additional 31 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

LHX stock opened at $300.08 on Monday. The firm has a 50 day moving average of $299.36 and a 200-day moving average of $328.70. The company has a market cap of $55.90 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 1.52 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 12-month low of $262.98 and a 12-month high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.L3Harris Technologies's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, equities analysts expect that L3Harris Technologies Inc will post 11.54 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio (DPR) is currently 54.29%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LHX shares. Weiss Ratings lowered L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein reduced their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Truist Financial raised L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. UBS Group reduced their price objective on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $361.70.

Insider Buying and Selling at L3Harris Technologies

In other news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president owned 4,192 shares of the company's stock, valued at $1,301,406.40. The trade was a 34.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies Profile

L3Harris Technologies NYSE: LHX is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company's offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.

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